OptionEye - The Cow Guy - Feb. 11th
3 down and the last was a dud. Although we were light on wheat and corn stocks, wheat took the lead and corn couldn't rally. I think it has to do with the overhang and the run up rally we had into the report. After an initial nickel spike higher we traded off the rest of the day.
The bean number was heavy and trading more that way overnight.
Corn unchanged, beans are down 11 and wheat up 2. A little something for everyone today.
Janet Yellen on the hill for Humphrey Hawkins. The testimony will be released at 7:30 with the speech later. New format.
European stocks are higher giving a boost to our overnight futures. They are up .5% to 1.5%. Gold is up $12.77 to $1287.55 and oil is up over $100 to $100.18 up .12 cents.
The dollar is slightly easier to 80.47.
Now it's back to economic figures. China and EM (Emerging Markets) will take center stage again. The US stock market was very resilient and strong on Friday after record outflows the week before suggesting that the weak longs are out of the market.